Sport Tesla models in Japan: Model 3 is almost a quarter cheaper

05:15  12 march  2021
05:15  12 march  2021 Source:   finanzen.net

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Tesla Inc (NASDAQ: TSLA) made Model 3 and Model Y vehicles were placed among the top electric vehicles by sales in China in February, as per data released by China Passenger Car Association, CNBC reported Wednesday. What Happened: The Model Y was the third best-selling electric car in Tesla began selling the Model Y at the beginning of the year, but the robust demand for the vehicle means that orders are not expected to be filled till the second quarter of 2021. See Also: Tesla Model Y Will 'Disrupt' The Chinese Auto Market — Here's Why The Elon Musk-led company is facing stiff

Almost a quarter of Tesla Model 3 orders refunded, according to report. By Chris Chin June 9, 2018. Despite the optimism and hope from fans for the success of the Tesla Model 3 , it seems even some of its potential customers weren’t happy with the issues the company’s been having with the EV’s launch. Since Tesla ’s Elon Musk announced the Model 3 over two years ago, the company began accepting ,000 deposits while promising the delivery of these vehicles by 2018. Bouncing off of the success of the Model S and Model X, Tesla managed to score several hundred thousand reservation

In the past few months there have been smaller price reductions for the Model 3 in various countries - now Elon Musk is also reducing the price in Japan: the variants are up to a quarter of the e-car cheaper. What's behind it?

ASIF HASSAN/AFP/Getty Images © Provided by Finance.net ASIF HASSAN / AFP / Getty Images

• Tesla price reductions in several countries

• Model 3 Long Range in Japan 24 percent cheaper in February

• Price reductions serve to strengthen Tesla's position in the

market A few weeks ago, Tesla CEO Elon Musk cut Model 3 and Model Y prices by $ 1,000 and $ 2,000, respectively. This is reported by The Driven. As early as October last year, the prices of the Model 3 Standard Range Plus (SR +) were reduced by eight percent in China and, according to GIGA magazine, the price of the Model 3 Performance was also reduced by 3,500 euros in January. Now the media are reporting price cuts in Japan - albeit on a completely different scale.

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Tesla has spent almost 0 million on scrap materials so far this year, according to internal estimates Business Insider has seen. That number does not include the overhead cost of creating that scrap (energy, labor hours, etc.). In its first- quarter earnings report, Tesla told investors that it had "largely overcome this bottleneck" in its battery-module line at the Gigafactory. But internal documents reviewed by Business Insider and an employee familiar with the matter who asked to remain anonymous tell a different story — one of incredible waste, hasty manufacturing, and continuous problems.

The price of Tesla 's cheapest car, the Model 3 , just got a little lower. But it's still not at ,000 as Elon Musk promised when it was first unveiled.

price cuts by 16 and 24 percent

The Drive and Bloomberg Quint provide information on the exact prices of the various Tesla models that have been reduced in Japan. The price cut took place in mid-February. The Model 3 SR + was reduced by 16 percent from the equivalent of around US $ 47,300 to around US $ 39,700, the performance variant stayed at its original price of around US $ 66,400.

According to the two sources, the Model 3 Long Range (LR) was reduced in price the most: from the equivalent of almost 60,700 US dollars by a full 24 percent to around 46,200 US dollars.

Tesla does not yet have a strong position in the Japanese market

What is the reason for this huge price cut? In China, the Model 3 SR + was reduced, but the Long Range was not - therefore it is assumed here that the reason lies in the use of the lithium iron phosphate battery manufactured by CATL in Shanghai in the SR +.

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So if the Model 3 tracks similarly to the Model S and the in-brand counterparts hold up as they have, the Model 3 will hold around 70% of its value during that five-year period. The only issue I see here is that the size of their survey is small compared to the overall market and they didn’t list how they Looking back only 4-5 years, the Model S has inferior resale value, meaning severe depreciation. The main reason…autopilot Autopilot was a game changer for Tesla and the Model S. If your car didn’t have autopilot, the value plummeted. Even my car which I bought in 2016, was almost 50% cheaper

The Model S Plaid Plus will use Tesla ’s new 4680 battery cell which allows for faster charging, better power, and performance. See Also: Tesla , LG Chem Negotiate Making 4680 Cells In US And Europe: Report. The cells will be packed in the vehicle in a new fashion using the automaker’s structural pack approach. The Elon Musk-led company also slashed prices by almost 25% in Japan recently where demand spiked following the cuts. Price Action: Tesla shares closed nearly 0.8% lower at 8.06 on Wednesday and fell 0.52% in the after-hours session. Click here to check out Benzinga’s EV Hub for

In the various media, however, this is not understood as the reason for the price reductions in Japan - rather the sales figures in Japan count here: By mid-2020, Tesla had only sold 376 Model 3s there since the beginning of the year, while the Japanese manufacturers EV sales 5,704 s Nissan Leafs and 2,606 Toyota Prius were able to sell. So Musk does not have a strong position in the Japanese market so far.

analyst Miyao explains: Price reductions result in more sales

And this, although a ban on new vehicles with internal combustion engines is to be enforced in Japan by the mid-2030s. This upcoming ban promises that Japan will continue to record high sales figures in the field of electric and hybrid vehicles in the next few years, from which Musk, with Tesla as one of the largest manufacturers of electric cars, would of course also like to benefit.

So in order to be able to keep up with the regional and international competition in Japan, Musk is lowering the prices. It should not be forgotten that Japan is both the home of the first electric car and the first hybrid vehicle, as The Driven explains. Takeshi Miyao, an analyst at Carnorama, Tokyo, told Bloomberg Quint: "[This price reduction] should have a positive impact on sales."

As far as the price reductions in European countries and the USA are concerned, it could be a mixture of both reasons: On the one hand, Musk wants to sell more, on the other hand, he is sometimes using cheaper batteries. Olga Rogler / Finanzen.net editorial team

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